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New York Community Bank history
New York Community Bank company history timeline
Established on April 14, 1859 in the village of Flushing, Queens County Savings Bank was the first savings bank chartered by the State of New York in the New York City borough of Queens.
Established in 1875, The Roslyn Savings Bank was the first financial institution headquartered in Nassau County, one of two counties--with Suffolk--that constitute Long Island, New York.
Roslyn was another venerable institution in the area, established in 1876.
Like NYCB, Richmond traced its history to the 19th century, with its founding in 1886.
Haven was the holding company for CFS Bank, founded in 1889 as Columbia Building & Loan Association.
Roosevelt's connection to the borough dated to 1895 when it was founded as Eastern District Savings Bank.
It assumed the Roosevelt name in 1920 as a way to honor Theodore Roosevelt, former governor of New York and the 26th President of the United States.
He first came to work for Queens County Savings in 1965 at the age of 18.
In 1968 he joined the military, serving one year in Vietnam and three years as an occupational service psychiatric specialist, an experience that soured him on a career in psychology.
He earned degrees from Pace University and the American Institute of Banking and began to work his way up through the bank's management ranks, becoming president and chief operating officer in 1989.
1993 Queens County Bancorp is incorporated.
Although it was doing well as a multifamily apartment lender in the metropolitan area, it lacked a sufficient amount of low-cost deposits to help it fund additional loans. It adopted the CFS Bank name in 1997, which it applied to the 62 supermarket branches it opened--but unfortunately at too rapid a pace.
Roslyn then acquired Roosevelt in 1999 and two years later NYCB acquired Richmond.
In anticipation of expanding its franchise through the first of several mergers, the Bank changed its name to New York Community Bank on November 21, 2000.
In 2000, the bank acquired Haven Bancorp for $196 million.
In 2001, NYCB acquired Richmond County Financial in an $802 million transaction.
In 2002, NYCB acquired asset manager Peter B. Cannell & Co.
Ficalora was in Europe on business when bidding began on the Long Island thrift in June 2003.
The firm became available after loan defaults caused net income in 2003 to drop by nearly 50 percent.
In 2003, NYCB acquired Roslyn Bancorp in a $1.6 billion transaction.
In early 2004 NYCB applied the Roslyn name to 30 CFS supermarket-based branches and a pair of Queens County branches in Nassau and Suffolk counties.
In the deal that was still pending in 2006, New York Commercial Bank would add five branches in Queens and Manhattan, one in Brooklyn, four in Westchester County, and two on Long Island.
In 2006, NYCB acquired Atlantic Bank of New York from the National Bank of Greece for $400 million.
In September 2009, NYCB re-branded the Synergy branches to Garden State Community Bank.
In December 2009, the Federal Deposit Insurance Corporation seized AmTrust, a bank headquartered in Cleveland, OH with 66 branches and $13 billion in assets in Ohio, Florida and Arizona.
In March 2010, Desert Hills Bank of Phoenix, Arizona, with $496 million in assets, was seized by the FDIC and acquired by NYCB.
In June 2012, NYCB acquired the assets of Aurora Bank from Lehman Brothers.
On November 4, 2016, Brooklyn Sports & Entertainment announced that the bank had acquired the naming rights to Nassau Coliseum; it was renamed "NYCB Live: Home of the Nassau Veterans Memorial Coliseum", due to agreements requiring that "Nassau Veterans Memorial Coliseum" remain in the arena's name.
In 2017, the bank sold the mortgage business acquired from the purchase of AmTrust at a $90 million profit.
NYCB pulled out of its naming rights contract in late August 2020 due to uncertainty surrounding the property after a June 2020 closure and subsequent new leaseholder.
On April 26, 2021, NYCB issued a press release indicating that they were acquiring Flagstar Bank in an all stock strategic merger.
With assets of $61.0 billion at March 31, 2022, New York Community Bancorp, Inc. is the holding company for New York Community Bank, a New York State-chartered savings bank serving customers throughout Metro New York, New Jersey, Florida, Ohio, and Arizona.
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New York Community Bank competitors
| Company name | Founded date | Revenue | Employee size | Job openings |
|---|---|---|---|---|
| People's United Bank | 1842 | $2.0B | 5,188 | - |
| Huntington National Bank | 1866 | $4.8B | 25,693 | 1,500 |
| Bank of the West | 1874 | $2.8B | 9,261 | - |
| TCF Financial | 1923 | $2.1B | 10,000 | - |
| KeyBank | 1825 | $2.8B | 17,999 | 641 |
| Amscot | 1989 | $350.0M | 2,000 | 14 |
| MUFG Americas Holdings | 1864 | $5.3B | 12,141 | 406 |
| M&T Bank | 1856 | $499.3M | 16,840 | 986 |
| First International Exchange Group | 1952 | $131.5M | 1,040 | - |
| ACE Cash Express | 1968 | $910.0M | 1,712 | 262 |
New York Community Bank history FAQs
Zippia gives an in-depth look into the details of New York Community Bank, including salaries, political affiliations, employee data, and more, in order to inform job seekers about New York Community Bank. The employee data is based on information from people who have self-reported their past or current employments at New York Community Bank. The data on this page is also based on data sources collected from public and open data sources on the Internet and other locations, as well as proprietary data we licensed from other companies. Sources of data may include, but are not limited to, the BLS, company filings, estimates based on those filings, H1B filings, and other public and private datasets. While we have made attempts to ensure that the information displayed are correct, Zippia is not responsible for any errors or omissions or for the results obtained from the use of this information. None of the information on this page has been provided or approved by New York Community Bank. The data presented on this page does not represent the view of New York Community Bank and its employees or that of Zippia.
New York Community Bank may also be known as or be related to NEW YORK COMMUNITY BANCORP INC, New York Community Bancorp, New York Community Bancorp Inc, New York Community Bancorp Inc., New York Community Bancorp, Inc., New York Community Bancorp, Inc. (nycb) and New York Community Bank.